Related papers: Proof-of-Behavior: Behavior-Driven Consensus for T…
Blockchain consensus is a state whereby each node in a network agrees on the current state of the blockchain. Existing protocols achieve consensus via a contest or voting procedure to select one node as a dictator to propose new blocks.…
Authorization is challenging in distributed systems that cannot rely on the identification of nodes. Proof-of-work offers an alternative gate-keeping mechanism, but its probabilistic nature is incompatible with conventional security…
Popular Ethereum wallets (like MetaMask) entrust centralized infrastructure providers (e.g., Infura) to run the consensus client logic on their behalf. As a result, these wallets are light-weight and high-performant, but come with security…
While cryptocurrencies and blockchain applications continue to gain popularity, their energy cost is evidently becoming unsustainable. In most instances, the main cost comes from the required amount of energy for the Proof-of-Work, and this…
Bitcoin blockchain uses hash-based Proof-of-Work (PoW) that prevents unwanted participants from hogging the network resources. Anyone entering the mining game has to prove that they have expended a specific amount of computational power.…
The trustless nature of permissionless blockchains renders overcollateralization a key safety component relied upon by decentralized finance (DeFi) protocols. Nonetheless, factors such as price volatility may undermine this mechanism. In…
An enormous amount of energy is wasted in Proofof-Work (PoW) mechanisms adopted by popular blockchain applications (e.g., PoW-based cryptocurrencies), because miners must conduct a large amount of computation. Owing to this, one serious…
Sensor networks and Wireless Sensor Networks (WSN) are key components for the development of the Internet of Things. These networks are subject of two kinds of constraints. Adaptability by the mean of mutability and evolutivity, and…
This paper we define a new Puzzle called Proof-of-Interaction and we show how it can replace, in the Bitcoin protocol, the Proof-of-Work algorithm.
The security of blockchain systems depends on the distribution of mining power across participants. If sufficient mining power is controlled by one entity, they can force their own version of events. This may allow them to double spend…
Byzantine Fault Tolerant (BFT) consensus forms the foundation of many modern blockchains striving for both high throughput and low latency. A growing bottleneck is transaction execution and validation on the critical path of consensus,…
Proof of work cryptocurrencies began with the promise of a more egalitarian future with a decentralized monetary system with no powerful entities in charge. While this vision is far from realized, these cryptocurrencies are still touted to…
Throughput limitations of existing blockchain architectures are well documented and are one of the most significant hurdles for their wide-spread adoption. In our previous proof-of-concept work, we have shown that separating computation…
This paper introduces a heterogeneous macroeconomic model of a Proof-of-Stake (PoS) network to analyze the long-term centralizing effects of external traditional finance (TradFi) yields. We model a continuum of rational actors divided into…
All public blockchains are secured by a proof of opportunity cost among block producers. For example, the security offered by proof-of-work (PoW) systems, like Bitcoin, is due to spent computation; it is work precisely because it cannot be…
The protocol for cryptocurrencies can be divided into three parts, namely consensus, wallet, and networking overlay. The aim of the consensus part is to bring trustless rational peer-to-peer nodes to an agreement to the current status of…
Blockchain is a decentralised, immutable ledger technology that has been widely adopted in many sectors for various applications such as cryptocurrencies, smart contracts and supply chain management. Distributed consensus is a fundamental…
With the rapid development of machine learning and a growing concern for data privacy, federated learning has become a focal point of attention. However, attacks on model parameters and a lack of incentive mechanisms hinder the…
Resource-based consensus is the backbone of permissionless distributed ledger systems. The security of such protocols relies fundamentally on the level of resources actively engaged in the system. The variety of different resources (and…
Proof-of-work (PoW) is an algorithmic tool used to secure networks by imposing a computational cost on participating devices. Unfortunately, traditional PoW schemes require that correct devices perform computational work perpetually, even…